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Peterbrgh (Prg Hlth) (50PS)

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Tuesday 24 November, 2015

Peterbrgh (Prg Hlth)

Formal Notice

RNS Number : 8157G
Peterborough (Progress Health) plc
24 November 2015
 



RNS ANNOUNCEMENT

 

PETERBOROUGH (PROGRESS HEALTH) PLC - RNS ANNOUNCEMENT

For immediate release

24 November 2015

PETERBOROUGH (PROGRESS HEALTH) PLC (the "Issuer")
£446,115,000 5.58 per cent. Guaranteed Secured Bonds due 2042
guaranteed as to scheduled payments of principal and interest pursuant to a bond financial guarantee issued by FGIC UK Limited (the "Controlling Creditor") (the "Bonds")
(ISIN XS0308856276)

The Issuer intends, subject to the consent of the Controlling Creditor (which consent is subject to the satisfaction of certain conditions), to exercise rights that it has under finance documents relating to the Bonds in respect of the sale of the shares held by Brook Henderson Group Limited (the Existing Parent) in Asteral Limited, Project Co's subcontractor in respect of the supply of medical and equipment services to the Peterborough Hospital (the MES Contractor) to Asteral Holdings Limited (the New Parent), including:

(a)        the release of the Existing Parent from its existing parent company guarantee and the replacement of that existing parent company guarantee with a new parent company guarantee issued by the New Parent;

(b)        deeds of novation pursuant to which the Existing Parent's rights and obligations under (i) the MES Funders' Direct Agreement between, among others, the Existing Parent, Project Co and the Security Trustee; and (ii) the Contingent Funding Agreement between the Existing Parent and Project Co, will each be transferred to the New Parent;

(c)        deeds of variation relating to (i) changes to the MES specifications under the MES Subcontract between the MES Contractor and Project Co and (ii) the 'flow-up' of those amendments to the Project Agreement between Project Co and the NHS Trusts.

 

Enquiries

The Issuer

Peterborough (Progress Health) PLC

8 White Oak Square

Swanley

Kent

BR8 7AG

 

Attention: Matt Rollings

 

Important information

This announcement is not a prospectus, is distributed for information purposes only and does not constitute or form part of any offer or invitation to issue, acquire or dispose of any securities in any jurisdiction. Nothing in this document is intended to amount to an invitation or inducement to engage in investment activity. Nothing in this document amounts to the giving of advice. If you are in any doubt as to the action you should take, you should consult a professional adviser.


This information is provided by RNS
The company news service from the London Stock Exchange
 
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